GDB Holdings Bhd
GDB Holdings Berhad, an investment holding company, engages in the provision of construction services in Malaysia. The company constructs high-rise residential, commercial, and mixed development projects. It also offers geotechnical and foundation engineering works comprising large-scale piling projects, infrastructure development, deep excavations, and basement construction. In addition, it enga… Read more
GDB Holdings Bhd (0198) - Net Assets
Latest net assets as of December 2025: RM273.52 Million MYR
Based on the latest financial reports, GDB Holdings Bhd (0198) has net assets worth RM273.52 Million MYR as of December 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (RM485.75 Million) and total liabilities (RM212.23 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | RM273.52 Million |
| % of Total Assets | 56.31% |
| Annual Growth Rate | 40.88% |
| 5-Year Change | 82.65% |
| 10-Year Change | 905.64% |
| Growth Volatility | 67.83 |
GDB Holdings Bhd - Net Assets Trend (2015–2025)
This chart illustrates how GDB Holdings Bhd's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for GDB Holdings Bhd (2015–2025)
The table below shows the annual net assets of GDB Holdings Bhd from 2015 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | RM273.52 Million | +40.14% |
| 2024-12-31 | RM195.18 Million | +15.89% |
| 2023-12-31 | RM168.42 Million | +5.01% |
| 2022-12-31 | RM160.39 Million | +7.10% |
| 2021-12-31 | RM149.75 Million | +11.80% |
| 2020-12-31 | RM133.94 Million | +10.92% |
| 2019-12-31 | RM120.75 Million | +15.97% |
| 2018-12-31 | RM104.12 Million | +160.84% |
| 2017-12-31 | RM39.92 Million | +46.76% |
| 2016-12-31 | RM27.20 Million | +206.47% |
| 2015-12-31 | RM8.88 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to GDB Holdings Bhd's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 2581.3% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | RM170.93 Million | 62.72% |
| Other Components | RM101.61 Million | 37.28% |
| Total Equity | RM272.54 Million | 100.00% |
GDB Holdings Bhd Competitors by Market Cap
The table below lists competitors of GDB Holdings Bhd ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Warehouse Group Ltd
PINK:WHGPF
|
$47.94 Million |
|
AOI Electronics Co. Ltd
MU:OIA
|
$47.95 Million |
|
Samindo Resources Tbk
JK:MYOH
|
$47.96 Million |
|
LOGISTRI FASTIGHETS AB
F:6DV
|
$47.96 Million |
|
Groupe LDLC SA
PA:ALLDL
|
$47.93 Million |
|
Micro Silicon Electronics Co., Ltd.
TW:8162
|
$47.92 Million |
|
Allied Biotech Corporation
TWO:1780
|
$47.92 Million |
|
Best SA
WAR:BST
|
$47.92 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in GDB Holdings Bhd's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 195,175,630 to 272,540,000, a change of 77,364,370 (39.6%).
- Net income of 54,259,000 contributed positively to equity growth.
- Dividend payments of 15,938,000 reduced retained earnings.
- New share issuances of 39,281,000 increased equity.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | RM54.26 Million | +19.91% |
| Dividends Paid | RM15.94 Million | -5.85% |
| Share Issuances | RM39.28 Million | +14.41% |
| Other Changes | RM-237.63K | -0.09% |
| Total Change | RM- | 39.64% |
Book Value vs Market Value Analysis
This analysis compares GDB Holdings Bhd's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.44x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 10.48x to 1.44x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2016-12-31 | RM0.04 | RM0.38 | x |
| 2017-12-31 | RM0.05 | RM0.38 | x |
| 2018-12-31 | RM0.11 | RM0.38 | x |
| 2019-12-31 | RM0.13 | RM0.38 | x |
| 2020-12-31 | RM0.14 | RM0.38 | x |
| 2021-12-31 | RM0.16 | RM0.38 | x |
| 2022-12-31 | RM0.17 | RM0.38 | x |
| 2023-12-31 | RM0.18 | RM0.38 | x |
| 2024-12-31 | RM0.21 | RM0.38 | x |
| 2025-12-31 | RM0.26 | RM0.38 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently GDB Holdings Bhd utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 19.91%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 7.25%
- • Asset Turnover: 1.54x
- • Equity Multiplier: 1.78x
- Recent ROE (19.91%) is below the historical average (27.62%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2015 | 56.68% | 2.97% | 2.11x | 9.04x | RM4.14 Million |
| 2016 | 52.37% | 5.14% | 2.51x | 4.06x | RM11.52 Million |
| 2017 | 56.41% | 7.59% | 1.95x | 3.81x | RM18.53 Million |
| 2018 | 26.79% | 10.16% | 1.29x | 2.04x | RM17.48 Million |
| 2019 | 24.13% | 9.03% | 1.40x | 1.91x | RM17.06 Million |
| 2020 | 19.18% | 7.08% | 1.37x | 1.98x | RM12.29 Million |
| 2021 | 19.11% | 6.74% | 1.26x | 2.26x | RM13.65 Million |
| 2022 | 10.72% | 3.37% | 1.38x | 2.30x | RM1.16 Million |
| 2023 | 4.77% | 2.51% | 0.92x | 2.06x | RM-8.81 Million |
| 2024 | 13.71% | 10.36% | 0.69x | 1.91x | RM7.24 Million |
| 2025 | 19.91% | 7.25% | 1.54x | 1.78x | RM27.00 Million |
Industry Comparison
This section compares GDB Holdings Bhd's net assets metrics with peer companies in the Engineering & Construction industry.
Industry Context
- Industry: Engineering & Construction
- Average net assets among peers: $122,625,026
- Average return on equity (ROE) among peers: 10.90%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| GDB Holdings Bhd (0198) | RM273.52 Million | 56.68% | 0.78x | $47.94 Million |
| Southern Score Builders Berhad (0045) | $185.91 Million | 21.63% | 0.66x | $100.69 Million |
| Mega Sun City Holdings Bhd (0081) | $63.83 Million | 5.86% | 0.08x | $774.65K |
| Waja Konsortium Bhd (0102) | $41.21 Million | 2.11% | 0.40x | $3.75 Million |
| Kelington Group Bhd (0151) | $21.62 Million | 30.56% | 1.09x | $533.88 Million |
| Widad Group Bhd (0162) | $456.36 Million | -3.64% | 1.38x | $3.73 Million |
| Pasukhas Group Bhd (0177) | $74.27 Million | -9.78% | 1.27x | $1.72 Million |
| HSS Engineers Bhd (0185) | $227.91 Million | 1.33% | 0.61x | $19.35 Million |
| Cabnet Holdings Bhd (0191) | $44.67 Million | 2.71% | 1.17x | $1.84 Million |
| Inta Bina Group Bhd (0192) | $99.86 Million | 15.42% | 1.52x | $19.05 Million |
| Kejuruteraan Asastera Bhd (0193) | $10.62 Million | 42.83% | 4.18x | $86.27 Million |